18,536 Shares in Columbia Banking System, Inc. (NASDAQ:COLB) Bought by Weiss Asset Management LP

Weiss Asset Management LP purchased a new position in Columbia Banking System, Inc. (NASDAQ:COLB - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,536 shares of the financial services provider's stock, valued at approximately $484,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Systematic Financial Management LP boosted its stake in Columbia Banking System by 29.5% during the third quarter. Systematic Financial Management LP now owns 1,164,810 shares of the financial services provider's stock worth $30,413,000 after acquiring an additional 265,681 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Columbia Banking System in the 3rd quarter worth approximately $924,000. Point72 Asset Management L.P. bought a new stake in shares of Columbia Banking System in the 3rd quarter worth approximately $11,664,000. Janus Henderson Group PLC raised its stake in Columbia Banking System by 33.1% during the third quarter. Janus Henderson Group PLC now owns 2,263,432 shares of the financial services provider's stock valued at $59,099,000 after buying an additional 562,467 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in Columbia Banking System by 2.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 350,140 shares of the financial services provider's stock worth $9,142,000 after acquiring an additional 6,930 shares in the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COLB has been the topic of a number of analyst reports. StockNews.com upgraded shares of Columbia Banking System from a "sell" rating to a "hold" rating in a research note on Saturday, October 5th. Royal Bank of Canada raised their price target on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a "sector perform" rating in a research report on Friday, October 25th. Raymond James upped their price objective on Columbia Banking System from $26.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. Truist Financial lifted their target price on Columbia Banking System from $28.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, October 28th. Finally, Wedbush boosted their price target on Columbia Banking System from $31.00 to $35.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $28.19.

Columbia Banking System Price Performance

Shares of NASDAQ:COLB traded down $0.33 during midday trading on Tuesday, hitting $29.52. The company had a trading volume of 822,520 shares, compared to its average volume of 2,193,505. Columbia Banking System, Inc. has a 12-month low of $17.08 and a 12-month high of $32.85. The company has a fifty day moving average of $28.93 and a two-hundred day moving average of $24.68. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 12.92 and a beta of 0.64.

Columbia Banking System (NASDAQ:COLB - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.07. Columbia Banking System had a return on equity of 10.13% and a net margin of 16.15%. The company had revenue of $765.06 million during the quarter, compared to the consensus estimate of $478.80 million. During the same period in the previous year, the company posted $0.79 EPS. Research analysts expect that Columbia Banking System, Inc. will post 2.63 earnings per share for the current fiscal year.

Columbia Banking System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, November 29th. This represents a $1.44 dividend on an annualized basis and a yield of 4.88%. Columbia Banking System's dividend payout ratio is presently 62.34%.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.